The cryptocurrency market experienced its second consecutive day of decline on Tuesday, with both bitcoin and ether dropping by approximately 0.75% since midnight UTC. This downturn follows two unsuccessful attempts by bitcoin to surpass the $80,000 resistance level over the past week, with the most recent attempt occurring during Asian trading hours on Monday.
The enthusiasm from last week's significant price surge from $70,000 to $79,500 is starting to wane, as several key price indicators have turned bearish, including the Coinbase Premium index, which has flipped negative, signaling dwindling demand from US investors. Meanwhile, US equities are poised to open lower on Tuesday, with Nasdaq 100 futures down 0.5% since midnight UTC, while the US dollar index has risen by 0.25%. Ongoing stalled peace negotiations between Iran and the US continue to influence traditional markets, with Brent crude oil now firmly above $105 per barrel. Additionally, derivatives positioning and market trends are being closely monitored.